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Genpact Intelligent OperationsSM
Making enterprises more competitive, with operations that sense, act and learn from the outcome of actions, at scale
PROVIDE VISIBILITY
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Finance and Accounting: Accounts receivables
Finance and Accounting: Order management
Finance and Accounting: Master data management
Finance and Accounting: Reconciliations
Supply chain management: The CFO view
Sourcing and procurement: Source to pay
IT managed services: End-user computing
Banking: Risk management
Life sciences: Multi-channel customer experience
Life sciences: Contract management
Healthcare providers: Accountable care organizations
Industrial manufacturing: Engineering services
Industrial manufacturing: Industrial asset optimization
Foreword
Intelligent OperationsSM in action
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ForewordThis document shares examples of intelligent operations – organizations built on smart processes that are able to sense, act and learn from the outcome of their actions, at scale.We see such examples spanning across financial services, healthcare, life science, manufacturing, consumer products, and high technology. The traditional divide between front and back office is blurring as the sensing, action and learning triggered by every client interaction is now cutting across enterprises in unprecedented ways. Manufacturers are able to optimize the effectiveness of their assets and capture more value from their clients by deploying more cost-effective services based on more insightful data. Pharmaceutical companies are enhancing growth, customer satisfaction and brand affinity, while reducing costs with technology driven customer engagement operations and harnessing the power of big data. Healthcare providers are generating better patient outcomes while reducing operating costs enabled by technology and related data-driven analytics. Finance departments are managing credit risk globally in real time.I hope that you will enjoy the reading.
Gianni GiacomelliChief Marketing Officer and Chair,
Genpact Research InstituteGenpact
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Domain expertiseTechnologyAnalyticsProcessReimagine how enterprises work through digital and analytics that work
Smart ProcessesDesign, transformation and operations support generate real impact by aligning tightly to measurable business outcomes thanks to proprietary SEPSM framework
Data-to-Action AnalyticsSM
Genpact Data-to-Action AnalyticsSM leverage Intelligent Process Insight EngineSM and advanced organizational delivery models
Effective Technology Genpact Digital harnesses effective, agile technology including Genpact Systems of EngagementTM and effective Core IT services
PROVIDE VISIBILITY
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Correct strategy and targets
Implement
Gather feedback
Consolidate, report
Analyze
Operate
Measure
Systems of EngagementTM create intelligent AR operations
2Improve execution practices •Systems of EngagementTM
for collections, credit dispute management, cash forecasting, reporting and analytics
• Implemented collection strategies and automation
•Standardized business processes across locations
•Identify target outcomes: improve DSO, delinquency, non-compliant cases, fully auditable orders, large order profitability
•Identify metrics: percentage past due
4Continuous learning: The ability to:•Test new AR algorithms and policies•Optimize technology infrastructure
performance
Run Data-to-Insight•Delinquency by client segment
and region•Timely detection of delinquent
accounts•Collaboration with regional
plants and sales to identify the root causes of payment issues
Finance and Accounting: Accounts receivables
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Reimagine order management process through digital Data-to-Insight-to-Action for better client experience and growth
Finance and Accounting: Order management
Correct strategy and targets
Implement
Gather feedback
Consolidate, report
Analyze
Operate
Measure
2Improve execution practices •Order management automation
and business process management services
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•Identify target outcome: effective supply chain, customer experience, cost
•Identify metrics: perfect order index, customer experience score
4Continuous learning: •Control tower continuously monitors
performance of individual areas (e.g. forecasting, fulfillment etc.) enabling near real-time optimization to improve perfect order
Run Data-to-Insight•Visualization and supply chain
control tower•Order management analytics
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Integrate and align process, technology and analytics to achieve intelligent MDM operations
Finance and Accounting: Master data management
Correct strategy and targets
Implement
Gather feedback
Consolidate, report
Analyze
Operate
Measure
2Improve execution practices • Increase accuracy by improving
first-time right for data that matters
•Formalize business rules to improve accuracy at source
•Streamline and standardize processes to reduce rework and manual touches, reduce people dependency, and improve productivity of data stewards
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•Identify target outcomes: improve customer satisfaction and data accuracy, enhance compliance, reduce cost
•Identify metrics: client net promoter score, product data accuracy
4Continuous learning: • Increasing operational excellence by
executing on defined and constantly updated key performance indicators and metrics
Run Data-to-Insight•Domain-driven identification
of contextual root causes
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Reimagine a Lean DigitalSM reconciliation process for faster closing, reporting, and controllership
Finance and Accounting: Reconciliations
Correct strategy and targets
Implement
Gather feedback
Consolidate, report
Analyze
Operate
Measure
2Improve execution practices •Systems of EngagementTM for
process automation•Risk prioritization of all
reconciliation accounts•Standard reconciliation process
across regions and lines of business
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•Identify target outcome: faster time to close, reduce cost, increase effectiveness, and enhance controllership
•Identify metrics: time to close, % pre-close, % open items, first pass yield
4Continuous learning: •Continuously monitor progress for
timely completion, qualitative review, and improved compliance
•Scenario-based automation for certification and de-certification
Run Data-to-Insight•Configurable, real-time
executive visualization•Drill down to lowest level for
root-cause analysis
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Enhanced visibility into the supply chain, to aid visibility and decision making
Supply chain management: The CFO view
Correct strategy and targets
Implement
Gather feedback
Consolidate, report
Analyze
Operate
Measure
2Improve execution practices •Map supply chain processes to
enhance the data infrastructure•Embed governance metrics and
practices•Optimized, standardized processes •SME knowledge transfer best in
class practices
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•Identify target outcome: revenue volatility, maintenance cost, unplanned downtime
•Identify metrics: free cash flow %, valuation metrics
4Continuous learning: •Multi level stakeholder engagement•Analytics driven process
improvement
Run Data-to-Insight•Visibility over the supply chain
process•Cash flow management
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Transforming sourcing and procurement by creating intelligent S2P operations with Data-to-Action AnalyticsSM
Sourcing and procurement: Source to pay
Correct strategy and targets
Implement
Gather feedback
Consolidate, report
Analyze
Operate
Measure
2Improve execution practices •Develop strategic sourcing and
category management plan• Improve negotiating skills and
demand management• Increase e-sourcing and catalog
penetration•Create a buying center to track
savings and enforce compliance•Embed new supplier performance
management framework
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•Identify target outcomes: reduce indirect spend and improve compliance
•Identify metrics: indirect spend, contract leakage, spend under management
4Continuous learning: •Regularly review and update
procurement KPIs and metrics•Ongoing evaluation and refinement of
category strategies•Sourcing and procurement process
and policy optimization
Run Data-to-Insight•Run spend analysis on
compliance, procurement cycle times, and realized savings
•Create a center of excellence for analytics and decision support
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Cut service desk spend, and enhance productivity
IT managed services: End-user computing
Correct strategy and targets
Implement
Gather feedback
Consolidate, report
Analyze
Operate
Measure
2Improve execution practices •Remote incident resolution•Automation of routine activities•ShiftLeftSM to reduce dependency
on expensive/non-scalable layers3
•Identify target outcome: user productivity and experience, cost to serve
•Identify metrics: customer satisfaction scores, MTTR*, number of incidents, FCR*
4Continuous learning: •Customer listening•Flexible segmentation and service levels •Enhance models linking service cost,
customer experience, satisfaction and advocacy
Run Data-to-Insight•Enable integrated view of
customer and user data across channels
•End-user segmentation•Service level benchmarking
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*MTTR – mean time to resolution,
*FCR - first contact resolution
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Reduce costs, minimize exposure and improve risk management
Banking: Risk management
Correct strategy and targets
Implement
Gather feedback
Consolidate, report
Analyze
Operate
Measure
2Improve execution practices •Set up enterprise data
management CoE for risk and regulatory programs
•Build responsive tools for instantly assessing risk
•Supporting real-time data processing
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•Identify target outcome: anticipate risk and manage exposure, improve compliance and promote service excellence
•Identify metrics: operations and cost metrics, transaction data, customer spend data, data leakage and gaps
4Continuous learning: •Onshore risk data advisory team to
design framework•Data process life cycle knowledge for
commercial products•Genpact risk academy and
certification
Run Data-to-Insight• Identify weaknesses, quantify
and qualify the significance of loss exposures
•Maturity assessment of frameworks
•Perform integrity, control and compliance reviews
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Enhance customer satisfaction and “brand love”
Life sciences : Multi-channel customer experience
Correct strategy and targets
Implement
Gather feedback
Consolidate, report
Analyze
Operate
Measure
2Improve execution practices •Command center to control
consumer hubs•Social media engagement playbook•Process and IVR improvements3
•Identify target outcome: customer engagement, brand love, revenue growth
•Identify metrics: customer satisfaction score, turn around time, call volume
4Continuous learning: • Improve product portfolio•Brand, channel strategy, marketing
and promotional effectiveness•New research, data sources, analytics
models, and SOPs
Run Data-to-Insight•Global CRM•Analytics CoE for consumer
experience, social media, brand/ad research
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Better margins, risk mitigation and revenue management
Life sciences: Contract management
Correct strategy and targets
Implement
Gather feedback
Consolidate, report
Analyze
Operate
Measure
2Improve execution practices •Contract request automation•Web based tracking and
workflows for membership updates, contract setup, changes and exception handling
•Contract audits on leakages/ overpayments
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•Identify target outcome: margin expansion (price and revenue management), risk mitigation
•Identify metrics: c-sat scores, past due>60 days, agent performance
4Continuous learning: •Lean six sigma for continuous
improvement•Refine analytical models
and reporting for improved customer management and future contract negotiations
Run Data-to-Insight•Data consolidation, master
data preparation•Pricing and contract analytics
for deal/customer profitability, revenue management and compliance
•Operational reporting and monitoring for claims processing
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Enable better health outcomes while reducing costs
Healthcare providers: Accountable care organizations
Correct strategy and targets
Implement
Gather feedback
Consolidate, report
Analyze
Operate
Measure
2Improve execution practices •Streamlined workflows,
care protocols and provider management
•Speech technology•Web/mobile integration
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•Identify target outcome: patient health outcomes, customer engagement, cost
•Identify metrics: occupancy rates, average length of stay, bed days/patient days, readmission rates
4Continuous learning: •Better contract management and
negotiation across the care ecosystem•Wellness programs and tailored care
delivery for high risk patient profiles•Analytics for new product development
Run Data-to-Insight•A specialized big data system
for a holistic view of patient and population data
•Analytics to identify high risk patients
•Patient satisfaction, physician and clinical performance dashboards
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Reduce engineering design costs and time to market
Industrial manufacturing: Engineering services
Correct strategy and targets
Implement
Gather feedback
Consolidate, report
Analyze
Operate
Measure
2Improve execution practices •Use “smart simple design” to
simplify the design process•Optimize and standardize processes •Transfer best in class practices
from subject matter experts across macro processes
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•Identify target outcome: reduce design cost and revenue leakage, improve time to market
•Identify metrics: adherence to schedule, design costs, production and service costs
4Continuous learning: • Improve communication across the
value chain for continuous process improvement
• Improve design standards and validation processes through iterative design
Run Data-to-Insight•Design data integration and
information exchange
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Maximize utilization and output, minimize downtime and maintenance costs
Industrial manufacturing: Industrial asset optimization
Correct strategy and targets
Implement
Gather feedback
Consolidate, report
Analyze
Operate
Measure
2Improve execution practices •Lean processes running on flexible,
optimal technology to deliver business impact
•Determine data entry error patterns• Implement industrial internet
platform to flag future issues and enable continuous learning
•Change management reduces systematic issues
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•Identify target outcome: revenue volatility, maintenance cost, unplanned downtime
•Identify metrics: data quality, cost estimates accuracy
4Continuous learning: •Suggest controlled-experiment changes
to data input to cut error opportunities; and alter maintenance schedules
•Modify confidence intervals for cost and revenue projections
Run Data-to-Insight•Focused big data approach
powered by six sigma, and driven by engineering and analytics expertise
•Master data preparation•Analysis of deviation •Domain driven identification
of contextual root causes (e.g. material tagging)
•Formalize hundreds of business rules to prevent incorrect inputs
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About Genpact
Genpact (NYSE: G) stands for “generating business impact.” We design, transform, and run intelligent business operations including those that are complex and specific to a set of chosen industries. The result is advanced operating models that support growth and manage cost, risk, and compliance across a range of functions such as finance and procurement, financial services account servicing, claims management, regulatory affairs, and industrial asset optimization. Our Smart Enterprise Processes (SEPSM) proprietary framework helps companies reimagine how they operate by integrating effective Systems of EngagementTM, core IT, and Data-to-Action AnalyticsSM. Our hundreds of long-term clients include more than one-fourth of the Fortune Global 500. We have grown to over 68,000 people in 25 countries with key management and a corporate office in New York City. Behind our passion for process and operational excellence is the Lean and Six Sigma heritage of a former General Electric division that has served GE businesses for more than 16 years.
For more information, contact, www.genpact.com
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